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NEW YORK - Procore Technologies, Inc. (NYSE:PCOR), a construction technology company with a market capitalization of $10 billion and impressive gross profit margins of 80%, has signed a multi-year strategic collaboration agreement with Amazon Web Services (AWS), according to a press release issued by the company on Tuesday. According to InvestingPro data, the company maintains a strong balance sheet with more cash than debt, positioning it well for strategic initiatives.
The partnership aims to accelerate product development in artificial intelligence, data operability, and analytics for the construction industry. Under the agreement, Procore’s construction management platform is now available in AWS Marketplace for customers in North America and Europe. The company has demonstrated solid growth with revenue increasing by 16% over the last twelve months, and analysts expect profitability improvements in the coming year.
The collaboration will allow customers to purchase Procore’s platform through AWS Marketplace, offering consolidated billing and the use of existing AWS spend commitments and cloud credits.
As part of the agreement, Procore will leverage Amazon Bedrock large language models to enhance AI solutions for document analytics, task automation, and intelligent assistance in construction project delivery.
"Procore’s mission has always been to connect everyone in construction on a global platform. Our collaboration with AWS is a force multiplier of that mission and will provide immediate value to our customers," said Steve Davis, President of Product & Technology at Procore.
Balfour Beatty, a construction industry company providing general contracting and design-build services, is working with both AWS and Procore to digitize its construction management processes.
"The combination of Procore and AWS helps us build smarter and more efficiently," said Kasey Bevans, SVP and CIO at Balfour Beatty.
Procore Technologies describes itself as a technology partner for the construction industry, with its platform being used on over three million projects across more than 150 countries, according to the company’s press release statement. For investors seeking deeper insights into Procore’s financial health and growth prospects, InvestingPro offers an extensive research report with additional ProTips and comprehensive analysis of the company’s market position and future potential.
In other recent news, Procore Technologies reported its second-quarter 2025 earnings, surpassing Wall Street expectations with an earnings per share (EPS) of $0.35, compared to the forecasted $0.26. The company also exceeded revenue projections, reporting $324 million against an expected $311.99 million. Despite these strong results, Citizens JMP downgraded Procore’s stock rating from Market Outperform to Market Perform. This downgrade followed the earnings announcement, which had initially shown a positive performance. Additionally, DA Davidson initiated coverage of Procore Technologies with a Neutral rating and a $70.00 price target. Analyst Gil Luria based this rating on a 7x updated 2026 revenue estimate for the company. These developments provide investors with a mixed outlook on Procore’s future, as indicated by the differing analyst ratings.
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